Silver For The People

Silver Stackers Can End The Silver Manipulation And Stop The Criminal Banksters

Donate Bitcoin

17E4x7cWzLxKkUsa25tPMuZzTB7BKZPA9o

Donate Via Paypal

Disclaimer

ALL CONTENT ON 'SILVER FOR THE PEOPLE' AS WELL AS THE 'BROTHERJOHNF' YOUTUBE CHANNEL IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY. 'SILVER FOR THE PEOPLE' ASSUMES ALL INFORMATION TO BE TRUTHFUL AND RELIABLE; HOWEVER, THE CONTENT ON THIS SITE IS PROVIDED WITHOUT ANY WARRANTY, EXPRESS OR IMPLIED. NO MATERIAL HERE CONSTITUTES "INVESTMENT ADVICE" NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, COMMODITIES, OPTIONS, BONDS, FUTURES, OR BULLION. ACTIONS YOU UNDERTAKE AS A CONSEQUENCE OF ANY ANALYSIS, OPINION OR ADVERTISEMENT ON THIS SITE ARE YOUR SOLE RESPONSIBILITY.

Donate Via Paypal

Revolver Maps

Market Report: Good advance above overhead supply

goldmoney.com / By Alasdair Macleod / August 11, 2017

Gold and silver stormed through minor overhead supply this week, to mount an attack on the June highs at $1296 and $17.70 respectively. From last Friday’s close, gold rose from $1259 to $1285 in early European dealing this morning, having hit a peak in Asian markets last night of $1289. This was within $6 of breaking above the June high. Silver has some way to go, with the price this morning at $17.05, still 65 cents below its June high.

Silver is repeating gold’s action in its run-up to the August Comex contract expiry, when unusually the closing of short positions, evidenced by the fall in open interest, drove the price higher. Regular readers of this weekly report will know that at contract expiry, the price usually falls, as hedge fund managers are nearly always net long, and vulnerable to having their stops taken out by the bullion banks. In silver’s case, the active contract is September, so the same situation to that of gold last month, applies. The effect is illustrated in our next chart, of silver’s open interest and the price.

READ MORE

Comments are closed.